THE RESTAURANT GROUP LIMITED consistently pays within the 31-60 day window, as 87% of invoices fall into this category, aligning with their average payment time of 48 days. This indicates a predictable payment pattern that typically extends beyond 30-day terms but remains within a manageable two-month timeframe.
The high concentration of payments (87%) within the 31-60 day window suggests strong reliability and predictability for suppliers expecting payment in that timeframe. While 7% of payments are classified as late and 4% exceed 60 days, this represents a relatively low proportion of erratic payment behavior, indicating generally stable payment performance.
Given an average payment time of 48 days and 87% of payments occurring between 31-60 days, suppliers should anticipate payment terms extending beyond a standard 30-day period. While the overall late payment rate is low at 7%, it is advisable for suppliers to establish credit terms aligned with a 45-60 day expectation and monitor payment trends to mitigate potential cash flow impacts.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2024 - 31 Dec 2024 | 15 Jan 2025 | 48 | 9% | 87% | 4% | 7% |
| 01 Jan 2024 - 30 Jun 2024 | 26 Jul 2024 | 49 | 12% | 83% | 5% | 9% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are the last business day of the month after the invoice date.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
None
Maximum contractual payment period agreed
61
All suppliers can contact the Accounts Payable team by phone or email to check the status of their invoice at any time during normal business hours. Disputes would typically be escalated to a senior member of the finance, procurement or relevant operational function. If necessary, this may be further escalated to the relevant executive board member.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
THE RESTAURANT GROUP LIMITED is an active private limited company. Its name indicates its business operations involve the management and operation of restaurants.
Incorporated on 22 October 1954, the company is registered under company number SC030343. Its registered office is situated at 1 George Square, Glasgow, G2 1AL.
Companies operating in this sector typically specialise in the provision of food and beverage services. They manage various dining establishments, offering a diverse range of cuisines and experiences to the UK market.